177: Year-End Review of My Subscription ...

This past year in my business was filled with wins, challenges, and hard-earned lessons. And that’s okay. Because being an entrepreneur, and especially a subscription box owner, isn’t as glamorous as the internet sometimes makes it seem. It’s more like a rollercoaster – holding on tight through the highs, the lows, and all the in-betweens. In this episode, I’m taking you behind the scenes of my business, sharing the good, the bad, and the downright frustrating moments.

Why share all of this with you? You know I believe in being transparent. And I want to inspire you to take a good look at your own business, reflect on your year, and use those insights to propel you into 2025, making it your best year yet! 

Why Reflecting on the Past Year in Your Business Matters

Looking back helps us see what worked, what didn’t, and how we can grow. As entrepreneurs, it’s easy to focus on where we fell short. I’m challenging you to shift your mindset to celebrate the progress you’ve made instead.

I started my subscription box business in 2017. To date, I’ve surpassed $10 million in revenue. That’s the gain I choose to focus on, even when things don’t go as planned. And there were definitely some times this year when things didn’t go to plan. 

The Highs – What Worked in 2024

• Recurring Revenue – My three subscriptions—The Monogram Box™, T-Shirt Club, and Tees 4 Teachers—account for 75% of my revenue. Recurring income is the foundation of my business.
• Successful Launch – My April launch, featuring low-cost bonuses, brought in over 400 new subscribers in just a few days.
• Turning Inventory into Growth – Self-liquidating offers (SLOs) helped me clear out excess inventory while attracting new customers, and turning one-time buyers into subscribers.
• The Lows – What Didn’t Work in 2024 
• A Slow Start to the Year – Taking my eye off the numbers in January led to slower months and a revenue deficit I worked all year to recover from.
• Campaigns that Fell Short – An "intro offer" flopped early in the year. But… Instead of giving up on the strategy, I revamped and relaunched it later with much better results.
• 2024 Had Its Surprises, Too 
• Retention Challenges – My retention has always been high. Always. Like 94%+ high. Until it wasn’t. A payment failure issue in September caused my retention rate to drop to a never-before-seen 79%. This was a hard pill to swallow – and sent me for the wine and chocolate – but it taught me to stay resilient.

Key Takeaways for Your Business

• Track Your Numbers – Every month. Don’t let busy months distract you from keeping an eye on your metrics. What happens today impacts the months ahead.
• Embrace Launches –Launches breathe new life into your business, giving customers a reason to subscribe or make a purchase.
• Experiment and Adjust – Not every campaign will succeed. But even those that don’t can teach you how to improve and grow.
• Focus on the Gain –Instead of dwelling on where you want to be, celebrate how far you’ve come. Progress is worth celebrating. 

Entrepreneurship isn’t easy, but it’s worth it. By reflecting on your year, focusing on the gains, and staying intentional with your plans for 2025 you can set yourself up for success.

Join me for this episode where I take an honest look at my subscription box business—and challenge you to reflect on 2024 in your business. Tune in and let’s dive into the lessons of the year!

Resources Mentioned in This Episode:

The Ed Mylett Show (Podcast)

The Gap and The Gain by Dan Sullivan and Benjamin Hardy

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